Analysis for the weekHey guys this is VHT your mentor and i am here guys with my analysis and how ultimately we all could make some money
BITCOIN trade ideas
Bitcoin AnalysisPrice is forming Flag and pole pattern on weekly charts with one shakeout on down side
Hidden RSI divergence might help the bounce if any
Relative strength is still very strong compared to SPX
But on Volume profile we can see VAH acting as resistance
Indicators and price suggests bullishness but volumes are against it
breakdown of channel low and 21ema will push prices downside whereas on upside a break of VAH and AVWAP is required for price to regain its strength
GBPUSDLooking for price to drop to the unmitigated FVG and Order block before taking a rally to 62400 price.
BTC MARKET ANALYSIS BTC has been total confusing right now, but data ans TA show BTC can go down upto 59500 for short term. But 64000 is expected.
Bitcoin's On-Chain Activity Hits Lowest Since 2019: What's Next?Bitcoin's On-Chain Activity Hits Lowest Since 2019: What's Next?
Bitcoin's onchain activity is approaching historic lows due to the dramatically slowed transactions in the last two months.
While some anticipate it as a bearish signal, others find it as an opportunity to accumulate more.
The crypto market is undergoing adjustments following the Bitcoin halving, with Bitcoin's value dropping about 18% from its peak, teetering on the edge of falling under the key $60,000 support level.
Moreover, the on-chain activity for Bitcoin is at its lowest in five years, a slowdown in transactions observed since reaching new heights. While some view this as a sign of a potential downturn, others see it as a chance to buy more at lower prices. Let's delve into this and explore whether Bitcoin will continue to decline or if it will pivot and start to recover.
On-Chain Activity Drops To Lowest In Five Years!
Bitcoin's on-chain activity, a measure of the total transactions recorded on the blockchain, is reportedly nearing historic lows, according to data from a financial website app.santiment.net. This downturn in activity has been observed in the two months following Bitcoin's all-time high, suggesting a significant slowdown in trading activities.
📉 #Bitcoin's #onchain activity is approaching historic lows as traders have dramatically slowed transactions in the 2 months since its #alltimehigh. This isn't necessarily a sign of more CRYPTOCAP:BTC dips, but rather a signal of crowd fear and indecision. t.co pic.twitter.com/ldtv3FPVxA— Santiment (@santimentfeed) May 11, 2024
Moreover, This trend is not necessarily indicative of an impending decline in Bitcoin's price (BTC). Instead, it reflects a prevailing sentiment of fear and indecision among traders. The hesitation to engage in transactions could be attributed to the uncertainty surrounding the cryptocurrency market, which often leads to reduced trading volumes during periods of market stress.
The decrease in on-chain activity can be seen as traders exercising caution, possibly waiting for more stable market conditions before committing to new transactions. This cautious approach is a common reaction to the volatile nature of cryptocurrencies, where rapid price changes can occur unexpectedly.
While some might interpret low on-chain activity as a bearish signal, it's essential to consider that market sentiment can shift quickly, and such metrics are just one of many factors influencing Bitcoin's price. On the flip side, Long-term investors might view this period as an opportunity to accumulate more BTC, while others might prefer to wait until there's a clearer direction in the market.
Technical Charts Suggest More Bloodbath Ahead?
From a technical point of view, the Bitcoin price has taken a U turn from the $65,000 level and was reapproaching towards the lower boundary of the declining parallel channel observed on the daily chart.
It indicates increasing bearish dominance. The price currently hovers above the psychological level of $60,000 which if breaks could trigger more Bloodbaths and the price may drop significantly towards the monthly lows of $56,000 level.
On the higher side, the 50 day EMA has turned out as a resistance and could prevent the price from moving higher until the price hovers below it. The bulls need to surpass the 50 day EMA in order to reclaim a positive trend.
BTC is forming bearish structure.BTC is forming a bearish structure, which is not yet completed. It could trigger a massive sell f if the structure fails with a global clue. the market is awaiting the bad news with curiosity.
#BTC/USDT Rebound Sparks Optimism#BTC/USDT has recently shown promising signs of a potential relief rally, supported by the formation of a double bottom pattern and bullish divergence. A double bottom typically indicates a reversal pattern, suggesting that selling pressure may have exhausted and buyers are stepping in. Concurrently, bullish divergence, where price forms lower lows while the indicator (like RSI) forms higher lows, signals weakening bearish momentum and a possible trend reversal.
This combination of technical indicators implies that Bitcoin could be poised for a relief rally, with a target retest of the $62,500 level. However, as with any market prediction, it's essential to monitor price action and volume to confirm the validity of the pattern and divergence. Traders should remain cautious and implement risk management strategies accordingly.
buyers may aim for a new all-time highThe Bitcoin price has experienced a strong buying pressure, that has been evident on the chart, since the beginning of 2023, which resulted in a 270% surge. Furthermore, on March 14th, 2024, the asset reached an all-time high of $73,810, but later it underwent a correction phase on the daily chart.
Mainly, from the start of March, the BTC price has been trying to defend an key major support level of $61,010. Yet, in the first week of May, the BTC asset price slipped below this key level for instance, but the buyers were strongly able to regain the price back above the $61,010.
As of press time, the assets’ price has traded at $60,957.01 on the daily chart, which has reflected an intraday gain of 0.12%. Likewise, its market capitalization is $1.19 Trillion, with a fully diluted market cap of $1.27 Trillion, and its 24-hour trading volume stands at $26.12 Billion.
With reference to the daily chart, Bitcoin's recent price is defending the major vital support level, and it has been trading at this level since the time of writing. However, the buying trend has appeared to have been slowed from the $70,000 hurdle, forming lower lows and lower highs.
At the falling trendline, BTC price has formed a bearish candlestick pattern. If sellers become interested, and the price falls below the major support level of $61,000, selling pressure could cause it to drop to the 200-day EMA.
If the asset price fails to defend the 200-day EMA, most investors may decide to book profits, leading to strong selling pressure. Conversely, if the Bitcoin crypto price triggers a breakout from the trendline and sustains it, buyers may become interested, leading to bullish momentum.
Assuming this buying momentum is supported by trading volume, buyers may aim for a new all-time high, and a long-term bullish trend may be expected.
Based on the chart structure, the major support level is $61,000, with another support level at $52,000. If the price gains bullish momentum, it could be interrupted near the $71,000 hurdle, with another resistance level at $80,000.
Countdown to Impact: Can Expiry of 18K BTC Options Shake Bitcoin
Today marks the expiration of 18,000 Bitcoin options contracts, with the maxpain price set at $62,000.
At the time of writing, the BTC was trading almost flat, exchanging hands at $63,276.
Bitcoin has been taking investors on a roller coaster experience post the halving event, with its price plummeting from a high of 67K to a recent low of 56K, before making a comeback to 65K.
In addition, today is significant as it marks the expiry of roughly 18,000 BTC options contracts, with the max pain price at 62K. Despite this, Bitcoin is currently trading above 63.27K, indicating potential activity in the market prior to the contracts' expiration.
Let's delve into a more detailed analysis of the potential impact this expiration could have on Bitcoin's trajectory.
Can Bitcoin Plummet Towards Maxpain Of $62K mark?
According to the options data from May 10th, there are 18,000 Bitcoin options set to expire. These options have a Put/Call Ratio of 0.64 and a Max Pain point at $62,000, with a total notional value of $1.2 billion.
May 10 Options Data 18,000 BTC options are about to expire with a Put Call Ratio of 0.64, a Maxpain point of $62,000 and a notional value of $1.2 billion. 280,000 ETH options are about to expire with a Put Call Ratio of 0.74, Maxpain point of $3,050 and a notional value of…— Wu Blockchain (@WuBlockchain) May 10, 2024
The Max Pain value represents the strike price at which the largest number of options would expire worthlessly, allowing option sellers—who are typically the more dominant market players with greater resources—to maximize profits. As expiration approaches, the market price often gravitates towards the Max Pain value, benefiting these large stakeholders.
Currently, Bitcoin is trading around $63.27K, which is about $1,200 above the Max Pain price. This suggests that Bitcoin's price might decline as it moves towards the Max Pain value of $62K during the expiry period.
Bitcoin Seems Weaker From Technical Point Of View?
The daily charts indicate a descending parallel channel pattern, with the price oscillating within its confines. Presently, the cryptocurrency is attempting to break above the 50-day Exponential Moving Average (EMA), but remains stagnant.
Should the buyers manage to decisively breach and hold above the 50-day EMA, it could pave the way for an ascent to the channel's upper limit at $68K. Conversely, if the momentum wanes and sellers take control, we could witness a retraction to the channel's lower edge.
Conclusion.
Bitcoin has been delivering a roller coaster experience to their investors post the halving event hovering from 56K to 65K. Moreover, Today, 18,000 BTC options were about to expire, with a max pain point at 62K. At press time, Bitcoin traded above 63.27K, hinting at pre-expiry market moves. The market tends to align with the max pain price as expiry nears, suggesting a potential drop for Bitcoin.
Also, The daily chart showcased the formation of a descending channel. Now, on a sustained move above the 50-day EMA, BTC could rise to 68K. Otherwise, it may fall back to the channel's lower boundary.
Bitcoin Bybit chart analysis May 9Hello
It's a Bitcoinguide.
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Bitcoin 30-minute chart.
Today at 9:30 there is a Nasdaq indicator announcement.
1-hour chart MACD deadcross
Because the branching point was divided as it kept being imprinted and released.
The analysis took a long time.
I honestly almost lost my eyeballs comparing it to Tether Dominance.
Everyone wants something hot, so in a place where everyone can see it is a huge downfall.
It is a catch-up buying strategy with a stop loss.
Nasdaq is always the variable
Today, additionally,
Will there be a MACD deadcross on the 12-hour chart at 9 a.m.?
Will the daily chart MACD deadcross be imprinted by 9 a.m. tomorrow?
Please check.
*Red finger movement path
Two-way neutral
Long->short switching strategy
1. $60,977 long position entry zone / stop loss when breaking out of the green support line
2. Short position switching at $63053 / Stop loss when breaking the red resistance line
If the strategy is successful,
Tomorrow's daily chart MACD dead cross depending on whether or not it is engraved
While maintaining a short position of $63,053,
In case of engraving -> Wait for long switching
In case of failure -> maintain short position
You can solve it together in tomorrow’s analysis article.
The 1-hour chart MACD dead cross is not engraved at the current location.
If you come down to retouch,
If the 12-hour chart MACD dead cross is not engraved until 9 o'clock
Or, if the resistance line is touched on the Bollinger Band 1-hour chart and the extreme horizontal is guaranteed,
You can get down to section 1 at the bottom for $60,642.5.
It is currently falling vertically on the 4-hour chart.
If it fails to break through the pink resistance line and declines, section 1 is ignored.
You can be pushed straight to the bottom
Stop loss is absolutely mandatory.
What I think is a safe mid-term upward trend is
It's about a light blue support line.
Current position, light blue support line, until the last support line
If there is an upward trend again,
If you get a chance out of three, you should try it, right?
If you trade principledly with a short stop loss,
In the end, I think you can safely make a profit.
I can't be the right answer or standard.
Don't forget that real-time selection is most important depending on the chart movement.
Please note that my analysis is for reference and use only.
I hope you operate safely with principled trading and stop loss required.
thank you
BTCUSD Short opertunity at pullback.As i shared this idea previously, we should enter for short position at this pullback.
As i already predicted this moves of market .
U should follow me to keep yourself updated.
Bitcoin's price to reboundAs of now, the BTC is being traded at 61040.7 with a small decrease of -0.84%.
The price of Bitcoin continues to slowly move, resembling a descending wedge pattern instead of consolidation, possibly leading to a 20% increase once it breaks out successfully. Nevertheless, according to the momentum indicators, there is a possibility of further decline before BTC completes the bullish reversal formation.
The RSI has been consistently decreasing since roughly mid-March, suggesting more potential for a negative trend. These indicate that the decrease trend could continue in the short run.
Therefore, the price of Bitcoin may drop further to the $60,000 support level or below, presenting another chance to buy in the $55,000 range.
However, in case the $60,000 mark keeps acting as a support, there is a possibility for Bitcoin's price to rebound before surpassing the upper trendline of the pattern. With a very optimistic scenario, if Bitcoin closes a candlestick above $65,550, it may rise to reclaim the $73,777 high, leading to a potential 20% increase towards the profit target within the falling wedge, aiming for $76,000 and $79,000.
#Bitcoin Heating Up: Analyzing the Bulls' MomentumIt sounds like you're analyzing two potential scenarios for the BTC/USDT pair. Let's break them down:
1. **Retest of $60,000 to $59,000, then liquidation of longs, followed by a rise to $84,000:**
- This scenario suggests that Bitcoin might retest the $60,000 to $59,000 level, possibly to shake out weak hands or test support levels. After this retest, it could liquidate long positions (which could lead to a sharp drop in price) before ultimately rising to $84,000.
- This scenario implies a short-term bearish movement followed by a significant bullish move.
2. **Fall to important support levels of $53,000 to $52,000, then rise to $84,000:**
- In this scenario, Bitcoin would fall to the $53,000 to $52,000 support range, possibly indicating a deeper correction. After reaching this support level, the price would then rally to $84,000.
- This scenario suggests a more significant correction to key support levels before a strong recovery to new highs.
Both scenarios indicate potential short-term volatility and significant price movements. It's essential to consider the overall market conditions, news events, and technical indicators when evaluating these scenarios to make informed trading decisions.
Bitcoin Bybit chart analysis May 8Hello
It's a Bitcoinguide.
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Bitcoin 30-minute chart.
There is no Nasdaq indicator announcement.
Long position entered yesterday,
On the left, the Purple Finger $62916.5 strategy is connected as is.
Today too, there is a high possibility of sideways movement.
This is a position that can fall significantly from the current position 4+6.
Since it is a place with many variables,
Please check the analysis carefully.
*Sky blue finger movement path
Two-way neutral
Short -> Long switching strategy
1. Short position entry zone at $63709.5 / Stop loss when the orange resistance line is broken
2. Long position switching at $62873.5 / Stop loss when the purple support line breaks away
$64,890 Top section long position 1st target -> Good 2nd target
For those who entered long positions yesterday,
You can operate with a stop loss starting from the breakout of the purple support line.
There is no place to go short yet, as there is no 5-minute trend reversal.
Please check if the 5-minute bar trend is changing.
Section 1 at the top is the short position operation section or extreme sideways protection section.
Section 2 at the bottom is at 9 PM, only until an additional 6-hour bar is created.
This is a major rebound period. (A place that can be pushed with maximum force)
Up to the orange resistance line/green support line today.
It is a right-sloping or right-down lateral long section,
If it breaks away from the green support line, it may reach the bottom.
If you touch the 1st target of today's top section
Because it is a place where broken patterns are restored.
The possibility of further rise increases.
After touching the light blue finger short entry section $63709.5
Purple support line -> It can fall significantly below the green support line.
From a long position perspective, it must absolutely break through today.
I have written in detail so far.
I don't know if it was helpful.
Please note that my analysis up to this point is merely for reference and use.
Please operate safely with principled trading and stop loss required.
thank you
Bitcoin Bybit chart analysis May 7Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
Please would like one booster button at the bottom.
Bitcoin 30-minute chart.
There is no Nasdaq indicator announcement.
This is a position with a very high possibility of sideways movement.
According to today's movement, it looks like the upper and lower sides are divided again.
Overall, we created a safe strategy.
*Red finger movement path
Long position strategy
1. $62916.5 long position entry zone / stop loss when breaking out of the green support line
2. $66,407 long position primary target -> Top secondary target
The pattern is maintained without being broken.
With MACD deadcross on the 6-hour chart,
The signal is a bit twisted.
While it is moving sideways, it is important to know where it will move depending on the Nasdaq movement.
The best move for a long position is
While maintaining the purple support line
It would be best if there was a rebound
When touching the green support line,
Because it reaches the dangerous section 4+6
It must break through the orange resistance line.
Number 1 at the top is an upward lateral movement.
I think number 2 at the bottom will be a sideways downward trend.
Within the green parallel line
If there is movement, you can view it as a extreme sideways market.
If BIT continues to succeed in rebounding with Nasdaq
Altcoins can also continue to rise from lows.
Please refer to it
Please keep in mind that my analysis up to this point is merely for reference.
Please operate safely with principled trading and stop loss required.
thank you
Bitcoin Bybit chart analysis May 3Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
Please would like one booster button at the bottom.
Bitcoin 30-minute chart.
There will be a non-agricultural index announcement at 9:30 tonight.
Both Nasdaq and Bitcoin are in a zone with a very high possibility of sideways movement.
If it falls, it may fall significantly.
This is an unfavorable section for long positions.
There are many variables to explain today, so please read the analysis carefully.
Also currently NASDAQ, Bit, Tether dominance
In all, some patterns are broken.
We created the most realistic strategy.
At the bottom left is $57,938 that entered yesterday.
Let’s connect today’s strategy starting from the entry section of the purple finger long position.
*Sky blue finger movement path
Two-way neutral
Short->Long switching strategy
1. $59705.5 short position entry zone / stop loss when the orange resistance line is broken
2. Long position switching at $58848 / Stop loss when the green support line is broken
At the top, $60637.5 long position primary target -> Top secondary target
Short -> Long or Long Wait
Of the two, I think it would be better to start with the section you touch first.
Section 1 at the bottom is the section where the short-term pattern is broken.
Cleanly within the purple support line without touching it
There must be a rebound.
From the breakaway from the green support line, from bottom to section 2 -> Bottom -> 3
It may fall, so be careful.
Next Monday the 6th is a public holiday.
I'm also going to take a break from analysis.
If you drag the analysis text left up or down,
If it rises or falls compared to the current chart screen
I left the support price and resistance price.
I think it would be a good idea to use it while I'm away.
Please note that my analysis up to this point is merely for reference and use.
I hope you operate safely with principled trading and stop loss required.
Thank you for your hard work this week.
thank you
BTC looking solid here. Feds moved to growth, less QT. Bullish I think we're bullish. April showers bring May flowers, Election year bullish historically, media and news pumping FUD all April too while big boys weren't bothered.
Crypto bullish too? $200,000 on the way?
Chart breakout above box
Long Opportunity Bitcoin is looking for buying opportunity after forming expanding channel & has clear formation to make movement to the upside, expecting target to reach at 68K
$BTC Risk-Managed Trading Beyond $64,500CRYPTOCAP:BTC Risk-Managed Trading Beyond $64,500
Red Box Resistance: The crucial resistance level is at $64,500. For a bull scenario, we need to see a confirmed candle close above this level.
Potential Breakout: If #BTCUSDT breaks above the red box, we could witness a rally toward a new all-time high.
Risk Warning: Only enter high leverage positions after clear confirmations to minimize risks. Proper risk management is essential.
#Bitcoin #cryptocurrency
Bitcoin AnalysisBitcoin Analysis
-----------------------
1. Price has tested 20 EMA
2. And Price is NOT showing any weakness to fall
3. This is clear Sideways from Range High and Range Low
BTCUSD again sell on rise till recent high not break On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
